Samsung to set up a $1 billion display manufacturing plant in Vietnam

Samsung Display Co Ltd has announced that it has received an approval from Vietnam authorities to set up a $1 billion display manufacturing plant in the country. The facility, which would be built in Bac Ninh province in Vietnam would be operational some time in 2015 and would provide high resolution as well as flexible displays for smartphones and tablets. The facility would employ 8000 workers and will have an ability to produce 48 million displays annually.

This manufacturing plant would help them lower display production costs and improve its ability to supply displays for Samsung devices as well as other customers. A company official said that it expected to generate an annual revenue of $6 billion from this display facility. Samsung already has two major manufacturing plants in Vietnam.